Following are few Basic points that will help KYF (Know Your Financial Status). Do’s ü Always try to maintain 6 months salary amount in your Savings A/c – to meet Emergency & Liquidity. ü Maintain 2 Savings A/c atleast with different banks with 50:50 or 70:30 Balance of your Liquid Fund. (Jus to meet any ATM withdrawal or server issues) ü Do not keep idle funds more than Rs.1 Lac in your Savings A/c as the ROI is only 4% ü Park short term funds in Fixed Deposits of upto 90,180 Days or above based on your requirement as the ROI is between 7-9%.(Online FD placement and closure is available) ü Start investing in Mutual Funds – (Diversified-medium risk) in Systematic Investment Plan (SIP) with as little as Rs.1000 per month with long term like 3-5 years ü Take adequate Term Insurance of 6-10 times of your annual earnings. Remember in Term Plan premium will be low and benefit will be for your legal heirs(only in case of risk the sum assured is given) ü Alwa